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Interesting Facts About Small Businesses In 2021

By Harry D. Lewis |

Small businesses make up the majority of the operations that exist in the United States. In fact, just under 36 million small businesses existed in 2021 meaning that small businesses accounted for just under 100% of all businesses operating that year. If you are interested in starting your own small business, you clearly are… Read More »

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Bankr29

FAQ About American Small Businesses

By Harry D. Lewis |

Starting one’s own business takes much planning, effort, and strategizing. When a business owner first opens their doors unless they have owned a business in the past, they are learning how to wear every hat in terms of being responsible for every operational aspect of their company for the first time. Financials, marketing, operations,… Read More »

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Bankr25

How Often Do Legal Suits Affect Small Businesses And Can They Cause Financial Harm?

By Harry D. Lewis |

Starting and running a small business effectively and successfully for the long term is an extremely difficult task in the United States. Even though just under 100% of all businesses in the United States are small businesses, the grand majority struggle to even last 5-10 years and a large portion do not even last… Read More »

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WillDocument

4 Reasons Why Wills Are Contested

By Harry D. Lewis |

One of life’s necessary but unpleasant topics to think about and act on is end-of-life planning. Contemplating about one’s own demise or that of a loved one is not a pleasant subject, but establishing an estate plan is a critical action that individuals should do while they are in good health to better ensure… Read More »

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Bankruptcy12

Alternative Considerations To Chapter 11 Bankruptcy

By Harry D. Lewis |

Chapter 11 bankruptcy will not work for all companies and may not even be an option for others. When Chapter 11 bankruptcy is suitable, corporations that have assets, as well as debt, can aim to make changes to their operations and reorganize. The benefit of Chapter 11 bankruptcy is that the company can be… Read More »

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Bankr32

Will You Be Personally Responsible For Paying Business Debt?

By Harry D. Lewis |

Mounting debt whether it be personal or business is not ideal and can make life much more stressful. When you own a business you and you accrue debt it is incumbent that you pay it off. However, if your business is not bringing in enough money to pay your debt, you may be wondering… Read More »

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Bankr9

Can You Get A Business Loan After Bankruptcy?

By Harry D. Lewis |

Being a successful business owner takes effort, creativity, motivation, and strategic planning and decision-making. And even if a business owner has all of the elements that should make for a solid business that can operate and be profitable, that does not always mean that their venture will work out. In 2021, there were well… Read More »

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Bankruptcy19

How Business Bankruptcy Impacts Credit

By Harry D. Lewis |

The chief objective of any business owner is to run a successful operation and increase their bottom line. But not every business endeavor is meant to be a success. Every month it is estimated that over 500,000 businesses will be formed but only 50% of them will make it to year five. Poor cash… Read More »

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BankruptcyQuest

How Consignors Can Protect Their Goods From Consignee Bankruptcy

By Harry D. Lewis |

The laws relating to consignment can put a consignor at a disadvantage if they do not take the time to understand them. But, consignment is a commonly used arrangement that many businesses take advantage of to run their operations. The jewelry industry is one where consignment arrangements are utilized frequently. These arrangements will have… Read More »

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Solvency

The Importance Of Solvency And Business Operations

By Harry D. Lewis |

Business owners work hard to make the right decisions that will help their operations thrive and prosper. Owning a business means having to wear several hats at once and figure out solutions to major problems that could affect the running of the business. One of the biggest issues that a business owner has to… Read More »

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